Question

a) If you were to start a recurring deposit account in a bank depositing Rs 800/per month for
34 years at the rate of 7% p.a, calculate the amount you would receive at the end of 3%
years.
13​

Answer 1

formulas used:

maturity value m.v = p × n + p×n(n+1)×r

2×12×100

p = principal (deposited ) amount

r = rate of interest

hope it helps u